United Cacao SEZC : Corporate Update and De-Listing from AIM

Written by United Cacao on 06 February 2017.

RNS Number : 0359W United Cacao Limited SEZC 06 February 2017 6th February 2017 United Cacao Limited SEZC Corporate Update and De-listing from AIM United Cacao Limited SEZC ('UCL'or 'the Company') the AIM listed plantation company with operations in Peru provides the following corporate and funding update. Further to the resignation of UCL's nominated adviser ('NOMAD') on 4th January 2017, the Company has provided multiple corporate updates (6th, 9th and 25th January 2017) as the Board of UCL (the 'Board') moved to secure the required funding to meet its ongoing obligations and preserve its asset base in Peru. During the month of January, the Company secured close to USD 700,000 of new capital through placements with investors of its 7% USD Convertible Bond and adopted various cost saving measures including the reduction of the workforce.The proceeds of the funding have been used to meet various urgent payments including payroll obligations for its workforce in Peru. Despite the progress made via the interim financing measures, the Company has been unable to appoint a replacement NOMAD in the required timeframe. As a result, the Company has been advised its ordinary shares will be automatically de-listed on AIM effective 7:00am today, 6th February 2017. Post the de-listing, UCL will seek to provide a facility for shareholders who wish to transact in the Company's shares on a Matched Bargain basis. The Board will continue in its efforts to stabilise the condition of the Company and, if successful, will examine a number of alternatives including the option of re-listing on an alternative trading platform. The Board continues to work to secure further funding to address its constrained financial situation and there is no assurance that such further financing will be raised to meet the Company's on-going liabilities. UCL will provide furthur updates as appropriate. For more information please visit www.unitedcacao.com or contact: United Cacao Limited SEZC [phone] Constantine Gonticas Beaufort Securities (Joint Broker) [phone] Jon Belliss / Elliot Hance Kallpa Securities SAB (Joint Broker) [phone] Ricardo Carrion Tavistock (PR Adviser) [phone] Niall Walsh / Jos Simson

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